Real estate investments continue to be the most profitable in terms of investment profitability and security. Foreign real estate is one of the most popular destinations and the United Arab Emirates is one of the most popular places to buy real estate. Because real estate is still one of the most popular ways to accumulate wealth, Dubai has become more profitable than ever, attracting investors from all over the world.
As the city has evolved into a leading smart and sustainable destination, In this article, we've compiled a list of eight reasons why investing in Dubai real estate should be your next financial move.
Many experts with in-depth knowledge of the Dubai real estate market have mentioned its apparent revival. Yes, residential sales increased significantly in the months of June, July, and August of 2019. The Khaleej Times reports a four-year high increase in residential home transactions in Dubai. The revival is visible in both the volume and value of real estate assets. According to the most recent statistics, the growth rate recorded is 33.46 percent when compared to the previous year. According to Data Finder, there were approximately 6618 residential transactions in Dubai in 2018. In addition, the number of transactions increased to 8,833 this year.
Aside from that, there are numerous other reasons to invest in Dubai real estate. Contact Dhanguard if you want to get a real estate license in Dubai. We will advise you on the most advantageous path forward in the real estate sector.
Here are the top 8 advantages to investing in Dubai real estate:-
We are all aware that Dubai is a metropolitan city where people from over 200 different countries come to further their careers and businesses. Because the city's population is constantly growing, the demand for properties is increasing at a rapid pace to accommodate this growth, bringing more investment opportunities to Dubai.
In fact, Dubai's current population of around 3.5 million people is expected to nearly double in the next 20 years, coinciding with the completion of Dubai's 2040 Urban Master Plan. Despite the covid-19 setback, which resulted in an 8.4 percent population decrease, the city's population recovered quickly, with the population now 100,000 higher than it was in January 2022. With a rapidly growing population as a result of thousands of expats from all over the world relocating to Dubai each year, it's no surprise that investors are migrating to the city.
Another significant advantage of purchasing property in Dubai is that it benefits significantly from its thriving economy. Dubai, as a strategic midpoint between East and West, serves as a major regional hub for businesses looking to expand in either or both directions.
It is attracting more foreign investors than ever before due to its highly diversified and stable economy, with revenue generated from tourism to trading. The government's effort to establish Dubai as the heartbeat of business and commerce in the Middle East/North Africa MENA region has resulted in tremendous improvements across all sectors and incredible capital growth. Dubai has undeniably become the world's largest business hub, whether through Free Zones or Expo 2020.
Dubai's state-of-the-art developments and innovation, from the tallest buildings to the largest airports, contribute to the city-rapid state's economic and population growth. After all, it is the 'City of Superlatives' as well as the 'City of Innovation'!
Dubai is a major technology and business growth hub that is constantly evolving to foster an innovation ecosystem. With humanoid robots now serving ice cream to customers at 'Icealice' in Dubai Festival City Mall, Dubai is a recognised world leader in AI, robotics, and fintech in the region, offering continuous support and manufacturing hubs for innovative companies to create and test their products.
Due to its excellent quality of life and world-class infrastructure, Dubai is widely regarded as one of the best cities in which to invest. With world-class dining venues, a luxurious lifestyle, beautiful beaches, connectivity, and cutting-edge entertainment and recreational facilities, it's easy to see why Dubai is a haven for investors!
In terms of real estate in Dubai, various developers have a growing inventory, offering stunning properties in upcoming and desirable areas. Not only that, but one of its major strengths is that it is relatively inexpensive in comparison to other major cities, implying that there is something for everyone regardless of their budget.
The safety of Dubai is essential in attracting more expats and investors to the emirate. Aside from successfully dealing with the global covid-19 outbreak, Dubai is known as one of the safest cities to live in general, with a very low crime rate and an efficient legal system, thanks to the necessary security measures.
In terms of real estate investment, Dubai has a strong regulatory framework in place to protect the interests of investors. Dubai also has the most transparent and regulated property market in the MENA region, which attracts investors because they know their money is safe.
If you buy a property in Dubai, you won't have to worry about paying taxes because the emirate has no annual property tax, income tax, or capital gains tax, making it the best city for real estate investment. After purchasing a property, owners will not have to pay any additional or ongoing taxes in the future, only the one-time property transaction and registration fees.
Needless to say, this makes properties in Dubai extremely affordable and, more importantly, profitable when compared to other major cities where paying periodic taxes is required. Despite the fact that the corporate tax will be implemented, the real estate market has remained unaffected, so you can buy a property in Dubai and rest assured that you will not have to continue paying a portion of your earnings!
Real estate in Dubai provides a high return on investment, significantly higher than in comparable cities such as London and New York. It is a rewarding experience because Dubai always has appealing properties in popular areas that offer excellent returns.
Due to the lack of property taxes, investing in a Dubai property could potentially generate a high return on investment. Offering one of the highest returns on property investment, you can expect returns of more than 6% in key neighborhoods, with double digits in others.
One of the most significant advantages of investing in a Dubai property is that you may be eligible for a resident visa based on your property investment in Dubai. This applies to foreign nationals with a minimum investment of AED 1,000,000 in a freehold property in Dubai, provided the property is ready and not under mortgage.
Because non-UAE citizens are also permitted to fully own property in Dubai without the need for a local partner, the city has seen a significant increase in construction, attracting foreign investors into the city's real estate market.
Dubai has evolved into a global metropolis overflowing with investment opportunities, enticing people from all over the world. Dubai is oriented toward exceptional growth and development, as evidenced by its innovative planning, impressive infrastructure, and sustainable living, so you can expect your investment to grow and prosper.
Furthermore, property prices in Dubai have stabilized, the market has matured, and a new real estate cycle is underway, making now an excellent time to invest in a Dubai property. So, for more information regarding investing in real estate license contact Dhanguard. We will gladly like to assist you!
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